Price Of Azerbaijani 'Azeri Light' Oil Rises In International Markets

(MENAFN- AzerNews) The price of Azerbaijani“Azeri Light” crude oil has seen a notable increase in global markets, according to the latest data, Azernews reports.

At the Italian port of Augusta, the CIF (Cost, Insurance and Freight) price of“Azeri Light” rose by $4.19, or 5.70%, reaching $77.64 per barrel.

Similarly, at the Turkish port of Ceyhan, the FOB (Free on Board) price increased by $4.19, or 5.80%, bringing the value to $76.39 per barrel.

In comparison, the price of Russian URALS crude oil climbed by $4.25, or 7.36%, to $61.99 per barrel, while the North Sea's“Dated Brent” benchmark rose by $4.34, or 6.13%, reaching $75.19 per barrel.

For reference, the average oil price forecast in Azerbaijan's state budget for 2025 is set at $70 per barrel.

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